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into the debt ceiling limit and whether you go past it. here is what the president said about that on tuesday. let's list. >> if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic. far worse than the impact of a fiscal cliff. >> congressman jordan back in 2011 when we had the debate you advocated going past the debt ceiling deadline saying it wouldn't be such a bad thing. would you advocate that again this year? >> i advocated a solution and not a deal. it is no wonder the president doesn't want to debate this. if i had prosided over the four annual highest deficits in american history, $5 trillion increase in the national debt i probably wouldn't want to talk about the issue either. let's look at the facts. since the debt ceiling agreement passed 16 months ago the day after it passed we got a downgrade from s&p. a week after the market dropped 1300 points. the supercommittee which chris and so many members voted for fell apart like we all thought it would and the only scheduled cut
there will be no debate whether to raise the nation's already exceeded debt ceiling. a key thing that republicans will give them much better positioning as the u.s. hovered dangerously close to the fiscal cliff. the two sides don't agree whether tax revenue is settled. republicans say having given the president hundreds of billions of new tax dollars unmatched by corresponding spending cuts, they are in no mood to give them more money. >> it's over. completed. that is behind us. now, the question, what are we going to do about the biggest problem confronting our country and our future. that is our spending addiction. it's time to confront it. >> not so fast according to house minority leader nancy pelosi. the idea of generating more tax revenue is certainly still in play. high income earners who were just hit with a rated increase should be prepared. >> according to the treasury department we have exceeded the debt ceiling. treasury department can keep from defaulting for roughly two months and automatic sequester cuts would kick in if that matter isn't resolved by then. >> bret: shannon, thank y
deal, no doubt. >>> congress is gearing up for the next fight over whether to raise the u.s. debt ceiling. that's expected to come sometime in february. democrats plan to push for a balanced approach for more tax revenues for the rich as well as spending cuts. senate majority leader mitch mcconnell is ruling out any tax hike. >> the tax issue is finished, over, completed. that is behind us. now the question is what are we going to do about the biggest problem confronting our country? and our future? and that's our spending addiction. >> if mitch mcconsl going to draw that line in the sand, it's a recipe for more gridlock. we have to take a balanced approach to long-term deficit reduction. >> republicans want big cuts in programs like medicare and social security as a condition for raising the debt ceiling. >>> and u.s. regulators may announce a $10 billion settlement today over bad foreclosure practices. the "new york times" first reported the deal last week said 14 banks, including citigroup, jpmorgan and the bank of america are involved. nearly $4 billion will go to people who l
, whether it be the upcoming debt ceiling fight -- ♪ >> or potential chaos overseas. just -- or just the overall sense that our economy isn't creating the jobs we thought it would. [ heartbeat ] >> this show i thought it would be important to have big themes to fall back on. rising tides that could lift all of their boat at least in the sector because we know that we've begun 2013 the way we ended 2012 -- with the endless assault of washington upon our stock market -- ♪ >> house of pain! >> plus, you also have to deal with the intellectually lazy talking heads who pontificate about things like risk on, risk off. i actually heard it today maybe four times, which is merely genuine wall street gibberish. and i did trade and invest for a living professionally that gets to fine opportunities for you. these dopes are looking at the world through some weird binary lens. a lens that says every day we're supposed to train the s&p futures, yeah. >> sell, sell, sell -- >> buy, buy, buy -- >> the long side, the short side. slang for we have to be bulls or britney spears -- or bears. i intend t
are already being drawn. chief among them whether congress will vote to raise the country's debt ceiling. shortly after lawmakers reached a down to the wire deal on taxes to pull the country back from the fiscal cliff earlier this week, the president tried to preempt the debt limit showdown by firing a warning shot at republicans. he reiterated that call yesterday. >> one thing i will not compromise over is whether congress should pay the tab for a bill already racked up. the congress refuses to give the united states the ability to pay its bills on time, the results for the global economy could be catastrophic. >> congress has vowed to use the upcoming votes to get more spending cuts to entitlement programs like medicare. some are threatening a government shutdown. in a moment, we'll talk to alan simpson and erskine bowles about where they see the fiscal cliff deal leaving the country. they say it falls short. but first, the man who brokered the deal with the white house on behalf of the republicans and no doubt will be a key figure in the battles ahead, the top republican in the senate
" yesterday, let's see. so mitch mcconnell is asked whether they were going to hold the debt ceiling ransom in exchange for spending cuts. mcconnell says it is a shame we have to use whatever leverage we have to get the president's attention. it's incredible. >> rush his calls -- return his calls. >> stephanie: lindsey graham did not dismiss a partial shutdown of the government. john cornyn said the same thing. floated the idea of a shutdown to win deeper spending cuts. >> spending cuts on what? on what? on social security benefits and medicare benefits. always seems to come back to that. social security system which has been operating from profit every single year since it was created, the medicare system solvent for another eight years and somehow they need to be cut cut, cut cut cut. they claim they want to save these things when in fact, they just want to destroy them. >> stephanie: chris van hollen, our friend your colleague said republican strategy is to give us what they want or we're going to tank the united states economy. >> the sequester strategy is the same thing. they're cuttin
ahead. steve leisman, you've got the debt ceiling talks, a lot of people expect a big fight here. what do we need to know and focus on on the impact on stocks? >> the first is the disagreement over whether or not we're going to reach an employment level that will allow the government to stop buying assets. this time last year the fed was predicting an unemployment rate for the fourth quarter of the next year or 2012. that was up almost a percentage point higher than it ended up being. so the fed was too pessimistic about unemployment. if you do get a fast improvement in unemployment, then the fed may end up stopping easing faster than the market believes. the second thing we're finding out is a growing concern on the federal reserve about the exit strategy and the kind of impact it would have on the fed's balance sheet. if higher rates forces to take losses. and the kind of payments it will have to make to banks on interest on reserves. those are two things. on the debt ceiling, i guess i just point out that the market's kind of been twice burned on this on the pessimistic side. whethe
to their base and also if you look at polling from the last debt ceiling crisis that we unfortunately lived through in 2011, when you ask people whether they favored compromise to avoid default or people to stick to their principles no matter what, democrats 81% wants compromise, independents 69%, republicans 53% so just in general, democrats are more amenable and interested in compromise. >> i think that you're absolutely right that if you had to pick the party that was more intransigent and inflexible it would be the republicans at least for a few years but go back -- >> democrats. i think you mean the democrats, right? >> no, he doesn't. >> no. correct me if i'm wrong. >> i'll get to the democrats. don't worry. the point is about the 85 republicans who the minority of the caucus that voted for the tax deal but i mean, ask yourself why is it that it was such a hard sell. if you're a republican, you got nothing in return other than making the tax cuts permanent. there are a lot of republicans saying that they would vote for a deal to make significant progress and got, you know, a big bagel
and attempted murder. >>> the battle that is brewing over the debt ceiling could be bigger even than the fiscal cliff showdown. republicans want to link raising the limit to cut the medicare, medicaid, and other government benefit program. >> we would need to raise the debt ceiling but if we don't raise it without a plan to get out of debt all of us should be fired. >> there are still deductions, credits, special treatments under the tax code which ought to be looked at very carefully. >> democrats say the tweets to the tax code could save some money but president obama says he is willing to consider spending cuts separately. however, he says he won't bargain over the government's borrowing authority. >>> president obama did sign into law a $9.7 billion bill to pay for flood insurance claims from victims of hurricane sandy. the law increases fee what's borrowing authority. the agency previously warned that it would run out of money without the extra funding from congress. the white house said more than 100,000 flood claim payments from sandy would be delayed without the additional money. congre
trying to win over american support with more public campaign style tactics. on the debt ceiling essentially the credit card limit shall the president is calling on congress to raise that ceiling without a fight. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already wracked up. if congress fuses to give the united states ability to pay for bills on time. the consequence could be sc catastrophic. the last time our families and businesses suffered for it. >> congress has about two months to fix the debt ceiling before the u.s. may have to default on some bills. >> how is that tough talk going over with republicans? >> not very well. >> republicans who agreed for the president's push for higher taxes during the fiscal cliff battle, now want to tackle spending and raising the debt limit as part of the spending problem. we want more bipartisan negotiations and less campaigning. >> and it looks like the second term of barack obama is going to be an in-your-face term. i'm not going to talk about the debt ceiling. we have yet to
to the battle over the debt ceiling and spending cuts. the big debate over whether more revenue increases should be on the table. >> the tax issue is finished, over, completed. that's behind us. now the question is, what are we going to do about the biggest problem confronting our country and our future. and that's our spending addiction. >> mitch mcconnell's going to draw that line in the sand. it's going to be a recipe for more gridlock. we have to take a balanced approach to long-term deficit reduction. >> and away we go again. jim, you said last week, you expect a see-saw quarter courtesy of these guys. >> it's so funny to hear the democrats say, it's time to think about taxes. that's kind of what they won on. senator mcconnell, i know that over a decade, i have felt opposition to -- he used to come on cramer. he was always, let's say volatile. how could he not be right now -- the entitlements are the issue. this is the united states of america. and someone's got to rein it in. no one wants to, because boy, once you do that, i've got a biotech company on tonight that wants to charge $300,000
the debt ceiling? it sounds logical. the debt ceiling is about spending that has already occurred. stop buying stuff so you do not have teacher bills. we have to pay the bills that have been incurred. if you want to say cut spending for what we do next, fine. you do not tie it the debt ceiling. >> should spending be tied to an increase on the debt limit? a tweet -- tom, arlington, texas, independent. caller: it is not so much what the government buys. it is how much the government pays for what they buys. . one common machine gun is $37 apiece. another is $47 apiece. i've thousand dollars apiece for assault rifles. maintenance cost of airplanes. who will pay that much money? host: how would you change things? caller: gets new vendors. more companies can manufacture stuff. nobody can build submarines for us other than general dynamics. they are building seven new destroyers at $7 billion apiece. host: what do you think about tying it to the limit in the debt limit increase? should we not increase the debt limit unless spending is curved? caller: yes, that would be prudent. >> cyndee wrig
of defaulting on its financial obligations. that sets up a fight over the debt ceiling. the main point of leverage congressional republicans to as their chance to bargain over fiscal issues as we whoevered dangerously close to the fiscal cliff. remember president obama says there will be no debate whether congress votes to raise our country's debt limit. >> one thing i will not compromise over, whether congress pays the bill for a tab they racked up. if congress refuses to give the united states the ability to pay its bills. it could be catastrophic. last time congress threatened this course of action our entire economy suffered for it. >> reporter: gop leaders in the house and senate, brace yourself, mr. president. you better believe there is going to be debate. congressman jim jordan says that is what the american people expect. >> let's do it for a change instead of saying give us more revenue. we promise we'll cut spending later. give us more borrowing authority, let us run up the credit card we promise to cut of the this is the old, lucy, charlie brown, the football, the american
Search Results 0 to 13 of about 14 (some duplicates have been removed)